Aberdeen Latin American Income Fund Limited

Capturing the powerful income potential of Latin American equities and bonds

Daily prices as of 21 Sep 2021

Share Price 53.00p

Estimated NAV cum income 59.38p

Estimated NAV ex income 59.23p

Dividend Yield 6.6%

Premium / (Discount) to NAV cum income -10.7%

Premium / (Discount) to NAV ex income -10.5%

Latest news

An update from our investment managers, Viktor Szabó and Brunella Isper - 29 July 2021

The recent economic activity data suggest that the recovery in Brazil has entered a slower phase. That said, with commodity prices still elevated and vaccination progressing rapidly, we still think the recovery has further to run.

Incoming fiscal figures from Brazil have impressed. These have been flattered by some one-offs, and higher interest payments will push up the deficit over the next year or so. Even so, the fiscal data underscore that the public finances are not as bad as many often suggest.

The latest economic activity figures from Mexico suggest that the recovery is broadening out from net trade to domestic demand. The fresh COVID-19 outbreak over the past few weeks (driven by Delta) poses a threat to the recovery, but shouldn't derail it.

Indeed, while vaccination coverage at the national level is low, it is higher in key economic centres such as Mexico City. And policymakers are reportedly planning to ramp up vaccination in tourist hotspots. As such, while some restrictions may be re-imposed, these are likely to be light touch and most economically important states should remain open for business.

Key people

Viktor Szabo

Viktor Szabó

Senior Investment Manager

Viktor Szabó is an investment manager on the emerging markets fixed income team. Viktor joined Aberdeen in July 2009 following the acquisition of certain asset management businesses from Credit Suisse Asset Management. Previously, Viktor worked for Credit Suisse Asset Management Hungary as country chief investment officer. Prior to that, Viktor worked for the National Bank of Hungary as the head of market analysis team.

Brunella Isper

Brunella Isper

Investment Manager

Brunella Isper is an Investment Manager on the Global Emerging Markets Equity Team. Brunella joined Aberdeen in 2010 from Bresser Asset Management where she worked as an Equity Research Analyst. Brunella graduated with a Bachelor of Public Administration (BPA) from Fundação Getúlio Vargas - EAESP, Brazil. She is a CFA charterholder.

Brett Diment

Brett Diment

Head of Global Emerging Market Debt

Brett Diment is the Head of Emerging Markets Debt at Aberdeen Standard Investments. Brett joined Aberdeen Asset Management via the acquisition of Deutsche Asset Management's London and Philadelphia fixed income businesses in 2005, where he held the same role since 1999. Brett joined Deutsche Asset Management in 1991 as a graduate and began researching emerging markets in 1995.

Brett graduated with a BSc from the London School of Economics.

Devan Kaloo

Devan Kaloo

Global Head of Equities

Devan Kaloo is Global Head of Equities and Head of Global Emerging Markets Equities for Aberdeen Standard Investments. Devan joined Aberdeen in 2000 as part of the Asian equities team in Singapore, before later transferring to London where he took up the position of Head of Global Emerging Markets Equities in 2005. In 2015 he was promoted to Global Head of Equities and joined Aberdeen’s Group management board. Devan started in fund management with Martin Currie in 1994 covering Latin America, before subsequently working with the North American equities, global asset allocation and eventually the Asian equities teams.

Devan graduated with an MA (Hons) in International Relations and Management from the University of St Andrews and has a postgraduate diploma in Investment Analysis from the University of Stirling.

Mubashira Bukhari Khwaja

Mubashira Bukhari Khwaja

Investment Manager

Mubashira Bukhari Khwaja is an Investment Manager on the Global Emerging Markets Equity team at Aberdeen Standard Investments. Mubashira joined Aberdeen Asset Management in 2007 from KASB Bank where she was a manager in the service quality division. Mubashira graduated with MSc in Wealth Management from Singapore Management University and MSc in Economics from Lahore University of Management Sciences. Mubashira is a CFA charterholder.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

  • Viktor Szabo

    Viktor Szabó

    Senior Investment Manager

    Viktor Szabó is an investment manager on the emerging markets fixed income team. Viktor joined Aberdeen in July 2009 following the acquisition of certain asset management businesses from Credit Suisse Asset Management. Previously, Viktor worked for Credit Suisse Asset Management Hungary as country chief investment officer. Prior to that, Viktor worked for the National Bank of Hungary as the head of market analysis team.

  • Brunella Isper

    Brunella Isper

    Investment Manager

    Brunella Isper is an Investment Manager on the Global Emerging Markets Equity Team. Brunella joined Aberdeen in 2010 from Bresser Asset Management where she worked as an Equity Research Analyst. Brunella graduated with a Bachelor of Public Administration (BPA) from Fundação Getúlio Vargas - EAESP, Brazil. She is a CFA charterholder.

  • Brett Diment

    Brett Diment

    Head of Global Emerging Market Debt

    Brett Diment is the Head of Emerging Markets Debt at Aberdeen Standard Investments. Brett joined Aberdeen Asset Management via the acquisition of Deutsche Asset Management's London and Philadelphia fixed income businesses in 2005, where he held the same role since 1999. Brett joined Deutsche Asset Management in 1991 as a graduate and began researching emerging markets in 1995.

    Brett graduated with a BSc from the London School of Economics.

  • Devan Kaloo

    Devan Kaloo

    Global Head of Equities

    Devan Kaloo is Global Head of Equities and Head of Global Emerging Markets Equities for Aberdeen Standard Investments. Devan joined Aberdeen in 2000 as part of the Asian equities team in Singapore, before later transferring to London where he took up the position of Head of Global Emerging Markets Equities in 2005. In 2015 he was promoted to Global Head of Equities and joined Aberdeen’s Group management board. Devan started in fund management with Martin Currie in 1994 covering Latin America, before subsequently working with the North American equities, global asset allocation and eventually the Asian equities teams.

    Devan graduated with an MA (Hons) in International Relations and Management from the University of St Andrews and has a postgraduate diploma in Investment Analysis from the University of Stirling.

  • Mubashira Bukhari Khwaja

    Mubashira Bukhari Khwaja

    Investment Manager

    Mubashira Bukhari Khwaja is an Investment Manager on the Global Emerging Markets Equity team at Aberdeen Standard Investments. Mubashira joined Aberdeen Asset Management in 2007 from KASB Bank where she was a manager in the service quality division. Mubashira graduated with MSc in Wealth Management from Singapore Management University and MSc in Economics from Lahore University of Management Sciences. Mubashira is a CFA charterholder.

    CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

richard-prosser

Richard Prosser

Chairman

Richard is a chartered accountant, a group director of the Estera Group (formerly known as Appleby Group) and a director of its wholly-owned trust company, Estera Trust (Jersey) Limited. He is a director of a number of companies including property companies, hedge funds and investment management companies. He chairs the investment policy committee of Estera Trust which monitors and evaluates the performance of asset managers throughout the Estera Group. He is also a director of Qannas Investments Limited.

Hazel Adam

Hazel Adam

Non-Executive Director

Hazel has over 20 years experience in the fund management and investment banking industries. After leaving Standard Life Investments in 2005, she joined Goldman Sachs International, as an executive director on the Emerging Market equities desk. She subsequently worked at HSBC Holdings plc, as a director on the Emerging Market equities desk.
Having both buy and sell side experience affords her a unique perspective on global markets and investment strategies. She holds the Financial Times Non-Executive Directors Diploma.

Heather MaCullum cropped

Heather MacCallum

Non-Executive Director

Heather MacCallum is a chartered accountant and was a partner of KPMG, Channel Islands, from 2001 until retiring from the partnership in 2016. She was a member of KPMG's financial services practice in the Channel Islands for 20 years. She is also a non-executive director and chair of the audit committee of Jersey Water and Blackstone Loan Financing Limited and is a non-executive director of Kedge Capital Fund Management Limited, Kedge Focus Fund Limited and Invesco Bond Income Plus Limited.

Howard Myles Photograph

Howard Myles

Non-Executive Director

Howard Myles was appointed to the Board on 1 October 2020. He was a partner with Ernst & Young from 2001 to 2007 responsible for the Investment Funds Corporate Advisory team having previously been with UBS Warburg. Starting his career as an equity salesman, he then joined Touche Ross & Co in 1975 where he qualified as a chartered accountant. In 1978 he joined W Greenwell & Co. in the corporate broking team and in 1987 moved to SG Warburg Securities where he was involved in a wide range of commercial and industrial transactions in addition to leading Warburg's corporate finance function for investment funds. Howard is Senior Independent Director of BBGI Global Infrastructure S.A., Audit Committee Chair of Chelverton UK Dividend Trust plc and Chairman of Baker Steel Resources Trust Limited.

  • richard-prosser

    Richard Prosser

    Chairman

    Richard is a chartered accountant, a group director of the Estera Group (formerly known as Appleby Group) and a director of its wholly-owned trust company, Estera Trust (Jersey) Limited. He is a director of a number of companies including property companies, hedge funds and investment management companies. He chairs the investment policy committee of Estera Trust which monitors and evaluates the performance of asset managers throughout the Estera Group. He is also a director of Qannas Investments Limited.

  • Hazel Adam

    Hazel Adam

    Non-Executive Director

    Hazel has over 20 years experience in the fund management and investment banking industries. After leaving Standard Life Investments in 2005, she joined Goldman Sachs International, as an executive director on the Emerging Market equities desk. She subsequently worked at HSBC Holdings plc, as a director on the Emerging Market equities desk.
    Having both buy and sell side experience affords her a unique perspective on global markets and investment strategies. She holds the Financial Times Non-Executive Directors Diploma.

  • Heather MaCullum cropped

    Heather MacCallum

    Non-Executive Director

    Heather MacCallum is a chartered accountant and was a partner of KPMG, Channel Islands, from 2001 until retiring from the partnership in 2016. She was a member of KPMG's financial services practice in the Channel Islands for 20 years. She is also a non-executive director and chair of the audit committee of Jersey Water and Blackstone Loan Financing Limited and is a non-executive director of Kedge Capital Fund Management Limited, Kedge Focus Fund Limited and Invesco Bond Income Plus Limited.

  • Howard Myles Photograph

    Howard Myles

    Non-Executive Director

    Howard Myles was appointed to the Board on 1 October 2020. He was a partner with Ernst & Young from 2001 to 2007 responsible for the Investment Funds Corporate Advisory team having previously been with UBS Warburg. Starting his career as an equity salesman, he then joined Touche Ross & Co in 1975 where he qualified as a chartered accountant. In 1978 he joined W Greenwell & Co. in the corporate broking team and in 1987 moved to SG Warburg Securities where he was involved in a wide range of commercial and industrial transactions in addition to leading Warburg's corporate finance function for investment funds. Howard is Senior Independent Director of BBGI Global Infrastructure S.A., Audit Committee Chair of Chelverton UK Dividend Trust plc and Chairman of Baker Steel Resources Trust Limited.

Financial calendar

Year End 31 August
Accounts published November
Annual General Meeting December
Dividend Paid January, May, July, October

Trust details

Aberdeen Latin American Income Fund Limited

Registered Office:
1st Floor,
Sir Walter Raleigh House
48 – 50 Esplanade,
Jersey
JE2 3QB

Registered in Jersey as an Investment Company Number 106012

Launch Date: 16 August 2010

Risk warning
Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. Please refer to the relevant Key Information Document (KID) prior to making an investment decision. Please be aware of scams that can affect investors.